flaMwoM Rooil.- 



Published In the Interest of H&rdwood Lumber, Ame'lca.n HaLrdwood Forests, Wood Veneer Industry. Ha.rdwood Flooring, OOTA 

 HaLrdwood Interior Finish, Wood CKemlceLls, Sslw Mill aLnd Wood\irarklntf Ma.ot\lnety. QAR 



Vol. XXXI. 



CHICAGO, MARCH 25, 1911. 



No. 11. 



Published on the lOlh and 25lh of each monlh by 



THE HARDWOOD COMPANY 



HENRY H. GIBSO.V, President LOUIS L. JACQUES, Sec'y and Treas. 



Sixth Floor, Ellsworth Bldg., 537 So. Dearborn St., Chicago, III. 



Telephones Harrison 8086-8087-8088 



REPRESENTATIVES 



Advertising Manager - R. T. Maston, 537 So. Dearborn St.. Cliicago 



Eastern Territory, Ralpli Pe\-erley, Rm. 500, 110 W. 34th St., New York 



Pliiladelpliia ------- Jacob Holtzman, 5254 Larchwood Ave. 



Southern Territory - E. W. Meeker, 537 So. Dearborn St., Chicago 

 Northern Territory - John S. Wyne, 537 So. Dearborn St.. Chicago 



TERMS OF ANNUAL SUBSCRIPTION 

 In the United Slates, Canada, Philippine Islands and Mexico . $2.00 

 In all other countries in Universal Postal Union .... 3.00 



Subscriptions are payable in advance, and in default of written orders to 

 the contrary are continued at our option. 



Entered as second-class matter May 26, 1902, at the Postoflice at Chi- 

 cago, III., under act of March 3, 1879. 



Advertising copy must be received five days in advance of 

 publication date. Advertising rates on application. 



General Market Conditions 



The general luii of the hardivooil trade during tlic past fortniijlit 

 in the chief commercial centers o£ the country is only indifferently 

 fair. There seems to be a .spirit of hesitancy in all commercial pur- 

 suits, and the liardwood lumber business is i\o exception to the gen- 

 eral trend of affairs. Hesitancy possibly does not express the actu.il 

 situation so much as indifference. Holders of lumber recognize that 

 stocks of all desirable varieties of hardwoods are in very short supply 

 and feel that if what little stock they have does not sell this -n-eek. 

 it will next week, and if )iot next week it will next month. They are 

 therefore standing pat and prices are held reasonably firm. 



There is a feeling that pending legislation, notably on the Cana- 

 dian reciprocity measure, may have some effect on the market. Even 

 if the measure does pass it is doubtful whether it will have any ap- 

 preciable effect on business, although there is still a continued feeling 

 of uncertainty over the immediate future. 



There are some particularly bright spots in the hardwood market 

 situation. In northern woods, maple and birch are particularly 

 strong, and owners of dry lumber in either of these varieties are hav- 

 ing opportunities to make sales at handsome advances over prices 



ever heretofore realized, and even beech is securing considerable atten- 

 tion and commanding better prices than formerly. On the other hand, 

 gray elm, basswood, rock elm and black ash are moving slowly, with 

 no .material advance in price. 



In the South country, first and seconds red gum in shipping shape, 

 is practically out of the market, and the little stock of this wood that 

 remains in first hands is commanding a premium of four to seven 

 dollars a thousand above list. 



The soft maple of West Virginia, east Tennessee and western 

 North Carolina is in good demand, and the prices obtained for hard 

 maple are being reflected in the demand and price obtained for this 

 wood. Prices have materially strengthened during the last month. 



No. 1 common and better chestnut is also in short supply and is 

 commanding a price in the eastern markets which is in excess of oak 

 • pf corresponding grades. 



Plain oak is in short supply both in red and white varieties and the 

 jirice is very well maintained. 



The only item in good southern stock which is in any apparent 

 overstock is quarter-sawed white oak, but this is now moving better 

 thau for some time and prices are fairly well held. 



The good end of poplar and Cottonwood are in only fair supply and 

 jirices are well maintained, save in wide panel poplar. The price on 

 this item has been declining for some months, owing to a drop in the 

 demand in the automobile body trade, but as there is such a limited 

 (juantity of this grade in sight, it is believed that a renaissance of 

 values will very soon obtain and that holders can count on securing 

 well toward last year's prices before the season is much further 

 advanced. 



The lower grades of all varieties of hardwoods are still the bug- 

 bear eonfronting the hardwood manufacturing industry. However, 

 the No. 3 stocks of the North, being close to market, are sold up much 

 closer than corresponding grades of southern woods, on which higher 

 freight rates must be paid to reach consuming centers. 



The high price of stumpage and of logs militates against any con- 

 siderable profit to either manufacturers or wholesale merchants at the 

 present time, as the loss on the coarse end is absorbing the profits 

 realized on the good end. 



There is still a large volume of building construction in the ma- 

 jority of American cities, aud this ^ade is consuming a good deal of 

 hardwood interior finish and doors, and incidentally is making a fair 

 demand for both oak and maple flooring. However, the output of 

 hardwood flooring is somewhat in excess of the demand. There seems 

 to be a tendency at present to reduce rather than increase the hard- 

 wood flooring output, which marks wisdom on the part of manufac- 

 turers. 



Trade in mahogany and other foreign woods remains steady, with 

 no appreciable change in values. 



Hardwood Prices 



The Eecoed attempts to make a close study of current hardwood 

 values and the editor of this publication has recently returned from 

 a' trip covering the chief centers of distribution in the East. He 

 finds there are certain jobbers in New York and other eastern cities 

 who still attempt to stinudate trade by cutting prices, and on the 

 contrary, there arc other manufacturers and merchants in those mar- 

 kets, aud representatives of western manufacturers, who are securing 

 a ver\ good business at a manifest premium over current list prices 



